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Conference rusure::math

Title:Mathematics at DEC
Moderator:RUSURE::EDP
Created:Mon Feb 03 1986
Last Modified:Fri Jun 06 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:2083
Total number of notes:14613

990.0. "Competitve Betting Strategies" by DWOVAX::YOUNG (Great Cthulu Starry Wisdom Band) Sun Dec 11 1988 14:35

    Two card players, A and B, are playing a card game which we shall
    call K.  Both players must ante $1 before each deal.  Player A deals
    one card to each player.  The deck contains an infinite number of
    cards, half being 1's and half being 2's.
    
    After the deal, A opens the betting by either passing, or betting
    1$.  B may then either fold (if A bet), call (by matching the raise,
    if any), or raise 1$ (also requires B to match any outstanding bet).
    If B has raised, then A may chose to fold or call.  Either a fold,
    or a call ends the betting.
    
    If a player folds, they forfeit the pot.  If a hand is called, then
    the player with the higher hand (a 2 beats a 1) wins the pot.  Ties
    are split between them.
    
    These are the legal betting sequences:
    
    	A	B	A	Result
    	----	----	----	------
    	Pass	Pass		Best hand wins $2 pot
    	Bet $1	Fold		A wins $3 pot
    	Bet $1	Call		Best hand wins $4 pot
    	Pass	Bet $1	Fold	B wins $3 pot
    	Pass	Bet $1	Call	Best hand wins $4 pot
    	Bet $1	Up $1	Fold	B wins $5 pot
    	Bet $1	Up $1	Call	Best hand wins $6 pot
    

    Problem:  Describe the best strategy for both A and B, and the expected
    	    return for each.
T.RTitleUserPersonal
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990.1oh BTW is that countably infinite?AITG::DERAMODaniel V. {AITG,ZFC}:: D'EramoSun Dec 11 1988 23:094
     I assume one doesn't see the others card; but does one get
     to peek at ones own card?
     
     Dan
990.2Right.DWOVAX::YOUNGGreat Cthulu Starry Wisdom BandMon Dec 12 1988 10:041
    
990.3A Simpler Problem:CHOVAX::YOUNGChurch of the One Electron.Thu Sep 06 1990 10:1330
    OK, since I didn't get any takers on this one, let me try to simplify
    it:
    
    	This is a 2-player card game.  Each player draws a card from a
    seperate deck (ie. they are independent).  Each deck consists of just 2
    cards, a 1 and a 2.  After looking at their own card each player
    decides whether to bet 1$ or 2$.  Both players make this choice at the
    same time without knowing wither what card the other player has, or
    what bet the other player is going to make.
    
    	After they have both decided, the bets are revealed:
    
    		A)  If both bets are the same, the betting is over 
    		(GoTo Showdown:)
    
    		B)  If the bets are different (ie. a 1$ bet and a 2$ bet), 
    		Then the player with the 1$ bet must decide whether to
    			Fold, in which case he loses his 1$..., or
    			Match by adding another 1$ (GoTo Showdown:)
    
    	ShowDown:  Both players reveal their cards.  The higher card wins
    		the pot.  Ties divide the pot.
    
    ~	~	~	~	~	~	~	~	~
    
    Now;
    		What is the best strategy?
    
    
    --  Barry
990.4Deja noteuVMSDEV::HALLYBThe Smart Money was on GoliathThu Sep 06 1990 13:085
>    		What is the best strategy?
    
    Not to sound like a broken record but:  IS THERE a best strategy?
    
      John
990.5Where was this asked before?CHOVAX::YOUNGChurch of the One Electron.Thu Sep 06 1990 15:311
    I believe that there is.